Huntington Bancshares (NASDAQ:HBAN) Issues Earnings Results

Huntington Bancshares (NASDAQ:HBAN) released its earnings results on Friday. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03, Briefing.com reports. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the prior year, the business earned $0.38 EPS.

Huntington Bancshares Trading Up 0.8 %

Shares of Huntington Bancshares stock opened at $13.28 on Monday. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $19.26 billion, a P/E ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. The company’s fifty day moving average is $13.27 and its two-hundred day moving average is $12.16.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.67%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insiders Place Their Bets

In other news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,241 shares of company stock valued at $1,360,359. Insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in HBAN. Tyler Stone Wealth Management acquired a new stake in shares of Huntington Bancshares in the second quarter valued at about $25,000. Clear Street Markets LLC lifted its stake in shares of Huntington Bancshares by 81.6% in the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,272 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Huntington Bancshares in the first quarter valued at about $35,000. Quarry LP lifted its stake in shares of Huntington Bancshares by 68.8% in the first quarter. Quarry LP now owns 3,777 shares of the bank’s stock valued at $42,000 after purchasing an additional 1,539 shares during the period. Finally, Worth Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the first quarter valued at about $45,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HBAN shares. Raymond James increased their price objective on shares of Huntington Bancshares from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, December 26th. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Finally, StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.